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Pier 1 Imports (PIR) Stock Declines on Weak Guidance

NEW YORK (TheStreet) -- Shares of Pier 1 Imports (PIR - Get Report) are lower by 0.82% to $7.29 on heavy trading volume on Thursday morning as the Fort Worth, TX-based company posted better-than-expected results for the 2016 fourth quarter, but provided a weak outlook for the year.

After yesterday's market close, the home decor and furniture retailer reported earnings of 39 cents per share, topping analysts' estimates of 21 cents per share, but flat from last year.

Revenue fell 1.4% to $542.3 million, but was above Wall Street's estimates of $526.8 million.

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